Technical analysis of EUR/CAD for July 17, 2015

According to my previous EUR/CAD analysis, after multiple bouces off the S1 (1.3983), this level is clearly acting as a strong support, which was rejected throughout this week over and overafter multiple bouces off the S1 (1.3983).

Today could be a day when a rally finally begins, and EUR/CAD still offers a very attractive price to buy. It seems very reasonable to get into a long trade right now targeting R2 (1.4640) area, whith the stop loss just below S1 (1.3983).